Hewlett Packard (NYSE:HPQ) announced that it earned $1.2 billion, or 63 cents per share. Though it was lower than the $1.5 billion it earned in the same period last year, results beat estimates of 47 cents per share. Revenue was $28.4 billion, down 6 percent, though cash flow from operations was up by 115 percent to $2.6 billion.
Shares are higher in early trading.
The company has been struggling to reinvent itself and revitalize its brand during the last year, being hurt by competitors such as Apple (NASDAQ:AAPL) taking significant market share from the company, as well as the failure of several product launches, including its tablet line.
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